San Diego, CA Real Estate News

By John McConnin
(McConnin & Company Realty)
Today I read an activerain blog by a San Diego Realtor.  He suggested the following items should be part of the short sale package: "Hardship letter from the Homeowner Completed Financial Statements Documents proving the Hardship IRS tax Returns for 2 years Income statements or pay stubs for past 2 months. 4 months worth of Bank Statements...."Would you make these items part of your short sale package?  Would you advise the homeowner accordingly? Would you have the homeowners sign some sort of document which purports to give you the right to negotiate with the bank?After answering the above questions - think about the qualification the California Realtor "rightly" included in the paragraph preceding the above bulleted list.  The active rain blogger qualified the above by saying your pot...
Comments 13
By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
Our family spent many of its early years in Big Bear Lake, CA. The mountains were wonderful, and our three sons enjoyed seven years of ski racing, mountain biking, tree house and igloo-building, and life in a small village. And though we lived within and hour or so to Palm Springs, Los Angeles and Orange County, trips to San Diego were always a special favorite. We enjoyed our San Diego visits so much that we eventually chose to move here, not only for North County’s excellent schools, but for the rich variety of family activities the San Diego area has to offer.Several weeks ago, I casually began listing all the things locals and visitors can do when vacationing with children in San Diego. I anticipate that it will be a list that continues to grow. And unless otherwise noted, all of t...
Comments 4
By Derrick Thompson
(D Thompson Consulting Group)
Looking for a home loan in the San Diego area?You've come to the right place!When you decide to buy a home or refinance a mortgage in San Diego or the surrounding areas, your search for a home loan or mortgage should start and end here.  With so many lenders to choose from in the greater San Diego area, and nationally, you need to choose one you can trust to find the mortgage loan that's best for you.Sure, there are dozens of big bank mortgage lenders nationally, but you need a lender in San Diego.  Why?  Because we know San Diego and the surrounding areas of San Diego, Orange, Riverside, and Imperial counties.  We know the local REALTORS®, appraisers, inspectors, and so much more.  We also have state-of-the-art technology that makes the loan process as easy and fast as possible, all wh...
Comments 1
By Bettie Shetter, Professional negotiator with a Smile!
(Allison James Estates and Homes)
Recently I hot listed my Leasing section of my long Real Estate career. While speaking to potential tenants, They had one thing in common. So, I made note of it. This is word for word..."we were looking to Buy, but now were waiting for a year." I would say at least ten couples, and they all were excellent Buyers. You know I'm going to be like Santa Claus, making my list, checking twice!   Even my own Buyers, who I suffered with through "Short Sale, Hell." They should rename it "No Sale." They have told me their waiting for a year.   We all know how Lenders/Bankers think!   I dream of a Hell where people go that never call back, you can't locate, lie to you. Do you think that room will be big enough? And will they all wear suits and have God complexes?   Maybe, to be fair some Realtors w...
Comments 5
By Todd Armstrong
(Pacific Sotheby's International Realty)
By Todd ArmstrongWhy are so many home buyers on the fence post?  What are they waiting for?  These and many other questions are racing through the minds of every Real Estate agent right now in San Diego.  This downward trend seems so prevalent in our market and it looks as if there will be no end in sight, but the MLS shows that people are still buying real estate every single day in San Diego.  Just last month in June, the San Diego Metro area had 59 detached homes SOLD and 123 Condos SOLD. Average market time was about 70 days.  What gives?Buyers are simply worried about the market.  They are waiting for the prices to keep coming down.  In my opinion, prices will continue to decline because sellers refuse to price their home correctly in the first place. Unfortunately, the foreclosure...
Comments 3
By William Johnson, Retired Real Estate Professional
(Retired)
Just about the time when everyone was on the same page with the old FICO scoring system, Fair Isaac's Corp. is making some needed changes in the the way the formulas will be calculated. A glimpse of the new model will be available in Sept 2007. This change will only affect one reporting agency in 2007 and the others will implement it in 2008. Fair Isaacs says the new system is not that much different. The major change in the new system is in the way it looks at those that receive credit points who are authorized  users on someone else's credit card. People with little credit history or with poor credit will likely see their scores change significantly when they close this loophole.  It will illuminate on the scores of millions of authorized users and their scores will be affected, eithe...
Comments 106
By Don King
(RE/MAX Rancho Bernardo)
"Staging" is the hot buzz word these days in the real estate world. Staging refers to actions you can take or hire to be done that will make your property more appealing to prospective buyers.A whole new profession has popped up as people with interior design backgrounds become specialists in staging a home for the market.In Northern California, home staging is far more prevalent than in San Diego. Many owners in the Bay Area spend between $5,000 and $10,000 with a professional home stager to prepare their home before it goes on the market.If you decide you want to hire a professional to stage your Rancho Bernardo home, I can recommend some local homestaging experts. Items included in a professional home staging may involve installing new carpet, fresh paint, rearranging furniture, remo...
Comments 0
By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
Short sales and foreclosures are becoming commonplace throughout the country, and we are certainly seeing our share in the San Diego market.The gloomy real estate statistics provide fuel for the bubble bloggers, who depend on these numbers to spin their stories and theories of conspiracies and doom. I doubt many of these mouthpieces are actually in the trenches dealing with the people and families who are having to endure the loss of their homes and dreams. The former owners of these lost homes are not the greedy flippers and short term investors targeted by the bubblers.They could be your next door neighbor. Imagine the pain and shame of losing one's home. Imagine not only the stress of moving, but having to negotiate a lease with damaged credit.Then, imagine the shock of and dismay o...
Comments 39
By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
And it's about time!The Senate Finance Committee is  considering changes in the way 1031 real estate exchanges have typically been accomplished.Under consideration is elimination of the 45-day identification of the replacement property, Under the proposed plan, 1031 exchangers would have a full 180 days to identify, purchase and close on the replacement property.I am preparing to write a string of emails to our comgressman and senators about this issue and a couple of others. I believe we have an obligation to speak out on behalf of our clients.
Comments 11
By Gary Giffin
(Real Estate Buy Sell Invest www.SanDiegoHomeSold.com)
Foreclosure filings in San Diego County doubled during the first three months of this year over the same period last year and increased sixfold over 2005, according to a survey released in April.For the month of March, county properties in some stage of foreclosure climbed by 49 percent from February to 2,551, the highest one-month level since the real estate market began to cool in 2005, according to RealtyTrac Inc., an Irvine foreclosure listing service in Irvine. That figure represents one in every 408 households.During foreclosure, a mortgage holder such as a bank or mortgage lender takes legal steps to seize property from an owner who is in default, or behind in making payments. Of the 2,551 properties in the county, 1,998 were in default, 415 were on notice the property would be s...
Comments 2
By Roberta Murphy, Carlsbad Real Estate and Homes
(San Diego Previews Real Estate)
Yesterday, we received a troubled call from a young man who was way over his head in mortgage debt. He is between jobs, living with his parents, and has no savings to support a $1.2 million mortgage--on a home located more than 100 miles away.It took time to ferret out the facts of this complicated story, and it only got worse with the client's telling.John's Story: 1. John purchased the property with the aid of a silent partner earlier this year. He was told that his 780 FICO score would allow him to purchase a $1+ million home with no money. In fact, the partner promised to pay John $15,000 at close of escrow and further promised to make the first three mortgage payments ($21,000).2. Remember, John had no savings. No problem. John was told that the mortgages (first and second) would b...
Comments 50
By Adam Pascu, Realtor - San Diego
(Keller Williams Realty)
2007: First Quarter for San Diego real estateStats on the main players in the real estate marketplace: 1. Inventory for detached homes throughout the county went up about 30% during Q1 20072. Foreclosure rates are near an all-time high. Read an article3. We've had 21,066 new listings in Q1 2007 compared to 23,534 from Q1 2006 & We've had 6067 closed sales in Q1 2007 compared to 6794 from Q1 2006. Read stats from the SD MLS4. Average rents for all types of (rental) units increased 5.8 percent over last year (Union-Tribune, 1/16/07)5. Interest Rates have remained steady. From the Federal Reserve website6. Demand to live in San Diego is very high. Read an article A discussion on these market factors:Inventory:This is pretty cut and dry economics - supply vs. demand. With a higher supply th...
Comments 3
By William Johnson, Retired Real Estate Professional
(Retired)
The San Diego Real Estate market gets it share of negative publicity but lately it seems that the press have backed off a bit and things really are normalizing. The market as they say is just the market. We needed a cooling off period to allow some to adjust from one of the hottest real estate temperatures any where in the country. Yes, that 's right we needed a cooling down period to get to a more normal market of supply and demand. The feeding frenzy slowed down and people ( both Buyers and Sellers )are better able to take stock of their prior and upcoming buying decisions. Sellers who made a bundle over the last number of years have had to adjust and now must provide a quality well priced product to be competitive. Read the rest of the story »
Comments 6
By RealEstate Spanish Liaison
(Casas l.l.c)
LOCATION! LOCATION! LOCATION! : 3-1 in San Diego: Buena ubicacion Location: Normal HeightsLocation: 38th Street & Monroe Avenue, San Diego, CA 92116 Open House January 11th, 12th, 13th,14th. 2pm- 6pmC^ A^ L^ L===((760-877-6763))===D^ I^ R^ E^ C^ T^3 bed room/1 bath house for rent in Normal Height, San Diego, CA. Available immediately. Within walking distance to grocery stores, restaurants & shops. Location close to everything. Normal Heights is known for its affordable pubs, restaurants, coffee houses, smoke shops, antique shops, book shops, and burgeoning arts community.Free information at:http://en.wikipedia.org/wiki/Normal_Heights%2C_San_Diego%2C_CaliforniaSingle Family Home Pets Allowed: Yes Rent: $1,380.00 Deposit: $1,400.00 Lease Term: 1 year prefered This house offers: ? Ceramic...
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By Rafael Perez
(iMortgage)
Recently I have seen articles stating that "Mortgage Planners" are just loan officers who paid a fee to be members of some certification company. I have also heard of people being told that a "loan officer" and a "mortgage planner" are the exact same thing. My opinion is as follows (Please keep in mind that most loan officers have the best intentions for their clients and I am in no way intending to demean any loan officers. My intention is only to illustrate observations I have made through my personal experience in the mortgage industry. )LOAN OFFICER:1. Loan Officers usually advises clients on away to "save money" such as paying a"lower monthly payment" by consolidatingcredit2. Loan Officers base the prequalificationprocess on "shopping" for the best rate andpayment for the loan stru...
Comments 6
By William Johnson, Retired Real Estate Professional
(Retired)
                                              The  National Association of REALTORS will meet here in San Diego and for the first time in November 2009. I think San Diego has finally matured as a major city and travel destination with the advent of the expanded and improved Convention Center. I personally am thrilled and hopefully , we ActiveRainers could also pull something together and have a big networking meeting and maybe even a workshop or two. I think it would be a great idea and it would be fun to host both groups here in San Diego. The weather will be warm and sunny. I have already started to pray to weather Gods so it will be perfect here. What ActiveRain does as a social network could be well benefited by so many ( estimated that 20,000 + ) attendees (our colleagues) that wil...
Comments 19
By Lisa Hayashi, Retired Realtor
(Award Referral Network Inc.)
I recently went to an investor's club meeting and the speaker was talking about how investors could buy short sales as high as 60% off the market value. When they introduced him, they said that he had been dealing in short sales for 2 years now and those were the type of deals he claimed he was able to make. They also mentioned that he has not invested in the last 8 months and has been too busy teaching his purchasing methods. I'm not saying it's not possible, but I believe it's also not as easy as he made it sound. Most of his methods dealt with contacting the distressed owners directly, so he did sound like he was attempting to teach his students how to take advantage of homesellers in financial trouble.It's entirely possible he was able to make deals happen at one time, but I believe...
Comments 0
By William Johnson, Retired Real Estate Professional
(Retired)
The sky it seems is not falling around the ears of San Diegans, at least as far as property rents are concerned.Investors take heed, your time may be here again! All those condo conversions that the San Diego City Council felt were going to doom the city forever are proving not to be as big a factor as they predicted. Availability of rentals even after 10,000 apartments were condominiumized has increased and the tenants who had little choice but to pay ever increasing rents have enjoyed about an 8 % drop in rents citywide.The condo conversions actually accomplished two important and positive things. The first was that the remodel of these older out of style and functionally obsolescent buildings that have measurably improved.The enhanced visual characteristics are testimony of these old...
Comments 6
By Lisa Epstein
(Jay Epstein State Farm Insurance)
As many of you are aware, this morning, New Zealand's Central Bank - their equivalent to our Fed - hiked rates to cool down their strong economic growth and fight inflation.  Australia will most likely follow suit, and the European Central Bank hiked their rates just yesterday.  The bond market is taking a beating and seems to be in a downward spiral.  The Bond market lost 90 basis points today as traders sold off US Bonds and bought foreign bonds where they can get a higher rate of return.  What this means in terms of interest rates is that they are going to climb - higher and higher until something happens more favorably in the US Bond market.  And to make this more personal - if you (or your clients) are in an adjustable rate right now, it is time to lock in - hopefully you haven't a...
Comments 4
By Dara Chantarit
(Windermere Exclusive Properties)
.flyertopmenu {font-family: Verdana, Arial, Helvetica, sans-serif;font-size: 12px;text-transform: none;font-weight: normal;border: 1px solid #C0C0C0;width: 50px;text-align: center;}.flyertopmenu a {color: #006600;text-decoration: none;width: 50px;height: 20px;background-color: #FFFFFF;padding: 2px;}.flyertopmenu a:hover {color: #006600;text-decoration: none;background-color: #C0C0C0;width: 50px;padding: 2px;}DetailsFeaturesPhotosSchools/City DataMapCalculatorsPrint Carmel Valley Dream Townhome! Property Address: 4155 Via Candidiz #36 San Diego, CA 92130 Price: $475000 MLS: 071045794 Best Value in Carmel Valley...Buy it Now! VR: $445,000 - $475,000 Fabulous Two Bedroom, Two Bath townhome with great open floor plan, a bright kitchen & dining area with hardwood floors, and a living room w...
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